An altcoin season occurring in this current bull market cycle has become a heated topic in the crypto sector lately, with uncertainty observed
The altcoin market has been performing poorly in recent months. However, some analysts believe that an altcoin season could still be on the horizon.
One key factor that could lead to an altcoin season is the recent formation of a Golden Cross in the altcoin market cap. A Golden Cross occurs when a short-term moving average (such as the 50-day moving average) crosses above a long-term moving average (such as the 200-day moving average). This technical indicator is often seen as a sign of bullish momentum building in the market.
Another factor that could be setting the stage for an altcoin season is the recent shift in market dynamics. As Bitcoin's dominance continues to decrease, investors are increasingly seeking out higher-return opportunities in the altcoin market. This could lead to a "flight to alts" and a subsequent rally in the altcoin market.
Finally, some analysts are also pointing to a Cup and Handle formation in the altcoin market (excluding BTC) as a sign of a potential breakout. A Cup and Handle formation typically occurs after a period of downward trend and signals a potential upside breakout.
If an altcoin season does occur, it could provide significant upside potential for many altcoins. However, it's important to note that the cryptocurrency market is highly volatile and anything can happen. As always, investors should do their own research and invest wisely.
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